Accounting Terms Glossary: Definitions & Examples
Accounting Terms Glossary
Shareholders
Category: Equity
Balance: Lender
Definition: Represents the non-integrated capital subscribed by the shareholders of a company.
Payables
Category: Passive
Balance: Lender
Definition: Represents overall indebtedness.
Advancement Salary
Category: Active
Balance: Debtor
Definition: Represents the payment of wages to an employee before the due date.
Rents Collected
Category: Gain
Balance: Lender
Definition: Represents the collection of rent.
Advance Rental Income
Category: Passive
Balance: Lender
Definition: Represents the collection of rents prior to the corresponding period.
Paid Vacation
Category: Lost
Balance: Debtor
Definition: Represents the payment of vacation time to an employee.
Prepaid Rent
Category: Active
Balance: Debtor
Definition: Represents the payment of rent to a third party prior to the corresponding period.
Advances to Suppliers
Category: Active
Balance: Debtor
Definition: Represents the payment of a debt in a current account before the due date.
Advance Client
Category: Passive
Balance: Lender
Definition: Represents the collection of a debt in a current account before the due date.
Family Allowances Payable
Category: Passive
Balance: Lender
Definition: Represents the debt owed by the company for the money they should charge the employee for their family.
X Savings Bank
Category: Active
Balance: Debtor
Definition: This represents a sum of money deposited in a bank at low interest rates.
X Bank Current Account
Category: Active
Balance: Debtor
Definition: Represents the money in a checking account in a bank.
X Bank Fixed Term
Category: Active
Balance: Debtor
Definition: Is the money deposited in a bank for a specified period.
Bonuses Obtained
Category: Gain
Balance: Lender
Definition: Represents rebates in the price of the product by buying in quantity, due to damage, etc.
Bonuses Lost
Category: Lost
Balance: Debtor
Definition: Represents sales discounts given on the product price by buying in quantity, due to damage, etc.
CMV
Category: Lost
Balance: Debtor
Definition: Represents the cost of goods sold.
Box
Category: Active
Balance: Debtor
Definition: Represents the cash.
Social Capital
Category: Equity
Balance: Lender
Definition: Represents the amount of capital stock of a company.
Social Charges
Category: Lost
Balance: Debtor
Definition: Represents the payment by the employer for retirement, social work, and family allowances for the employee.
Payroll Taxes
Category: Passive
Balance: Lender
Definition: Represents the debt owed by an employer for pension, social work, and family benefits of the employee.
Customers
Category: Active
Balance: Debtor
Definition: Represents receivables from the sale of goods in a current account.
Shopping
Category: Motion
Balance: Debtor
Definition: Represents the value of merchandise purchased.
Accumulated Depreciation of Fixed Assets
Category: Regulated Assets
Balance: Lender
Definition: Represents the amount of wear of fixed assets.
Depreciation
Category: Lost
Balance: Debtor
Definition: Represents the wear of the goods.
Discounts Earned
Category: Gain
Balance: Lender
Definition: Discounted amount payable for early payment.
Discounts Lost
Category: Lost
Balance: Debtor
Definition: Discount in the amount charged for early payment.
Judgement Debtors
Category: Active
Balance: Debtor
Definition: It represents a claim on which legal proceedings have been initiated.
Mortgagors
Category: Active
Balance: Debtor
Definition: Represents a collection right backed by a building.
Doubtful Accounts
Category: Loss
Balance: Debtor
Definition: Represents the receivables that will not be charged.
Defaulters
Category: Active
Balance: Debtor
Definition: Represents a right to payment that was not collected on the due date.
Accounts Receivable
Category: Active
Balance: Debtor
Definition: Represents a collection right in a current account.
Sundry Debtors
Category: Active
Balance: Debtor
Definition: Represents debts to collect in general.
Dividends Receivable
Category: Active
Balance: Debtor
Definition: Represents the portion of the profit of the company that corresponds to charge a shareholder.
Dividends Payable
Category: Passive
Balance: Lender
Definition: Represents the portion of profit that the company will pay shareholders.
Dividends Received
Category: Gain
Balance: Lender
Definition: Represents the portion of the gain that the shareholder took.
Dividends Paid
Category: Lost
Balance: Debtor
Definition: Represents the share of company profits paid to shareholders.
Receivable Documents
Category: Active
Balance: Debtor
Definition: Represents the receivables backed by a document (such as a promissory note).
Payable Documents
Category: Passive
Balance: Lender
Definition: Represents the payment obligations documented.
Notes Discounted
Category: Order Account
Definition: Represents the notes discounted at a bank. In the event that the debtor does not pay, the discounter must be held accountable.
Computer Equipment
Category: Active
Balance: Debtor
Definition: Represents the computer equipment.
Missing Box
Category: Loss
Balance: Debtor
Definition: Represents the difference between the book value and cash.
Freight
Category: Lost
Balance: Debtor
Definition: Represents the cost of transporting goods.
Fixed Fund
Category: Active
Balance: Debtor
Definition: Represents the cash allocated to fixed costs.
Expenses Customs
Category: Active
Balance: Debtor
Definition: Represents customs charges.
Expenses of Organization
Category: Lost
Balance: Debtor
Definition: Represents assembly costs of a company, which is generally amortized over 5 years.
Overhead
Category: Lost
Balance: Debtor
Definition: Represents small expenses.
Fees Paid
Category: Lost
Balance: Debtor
Definition: Represents fees paid.
VAT Debit Tax
Category: Passive
Balance: Lender
Definition: Represents the sales tax generated.
VAT
Category: Active
Balance: Debtor
Definition: Represents the sum of money to discount in the next period to the AFIP, for the VAT.
VAT Payable
Category: Liabilities
Balance: Creditor
Definition: Represents the sum of money to enter the AFIP generated by the VAT.
VAT Tax Credit
Category: Active
Balance: Debtor
Definition: Represents the tax generated by purchases.
Income Tax
Category: Lost
Balance: Debtor
Definition: Represents the amount of tax paid, calculated on the profit of the company.
Income tax – Balance For
Category: Active
Balance: Debtor
Definition: Represents the balance of income tax.
Taxes and Services
Category: Lost
Balance: Debtor
Definition: Represents the payment obligations to the state.
Properties
Category: Active
Balance: Debtor
Definition: Represents the property of an enterprise.
Facilities
Category: Active
Balance: Debtor
Definition: Represents property supplements.
Interest Receivable
Category: Active
Balance: Debtor
Definition: Represents the amount generated by interest receivable.
Interest Payable
Category: Liabilities
Balance: Creditor
Definition: Represents revenues generated by interest expense.
Collected Interest
Category: Gain
Balance: Creditor
Definition: Represents the collection of the amount added to the sale in interest.
Interest Charged to Accrue
Category: Passive
Balance: Creditor
Definition: Represents the collection of the amount added to the sale in interest, posted before the actual date.
Interest Paid
Category: Lost
Balance: Debtor
Definition: Represents the payment of the amount added to the purchase in interest.
Interest Paid to Earn
Category: Active
Balance: Debtor
Definition: Represents the payment of the amount added to the purchase in interest, posted before the actual date.
Machinery
Category: Active
Balance: Debtor
Definition: Represents the machinery of a company.
Machinery and Tools
Category: Active
Balance: Debtor
Definition: Represents the machinery and various tools of an enterprise.
Trademarks and Patents
Category: Active
Balance: Debtor
Definition: Represents the ownership of patents and trademarks registered in the name itself or purchased.
Direct Materials
Category: Active
Balance: Debtor
Definition: Represents the elements that make up the finished product. Can be recovered.
Commodities
Category: Active
Balance: Debtor
Definition: Represents the elements that make up the finished product. Cannot be recovered.
Goods
Category: Active
Balance: Debtor
Definition: Represents the inventories.
Mobility and Subsistence
Category: Lost
Balance: Debtor
Definition: Represents the costs of transportation of personnel.
Furniture and Fixtures
Category: Active
Balance: Debtor
Definition: Represents the property.
Notes Payable Banks
Category: Liabilities
Balance: Creditor
Definition: Represents the payment amount charged by a bank.
Stationery and Supplies
Category: Lost
Balance: Debtor
Definition: Represents costs and expenses of office stationery.
Provisions for Layoffs
Category: Adjustments of Asset
Balance: Creditor
Definition: Represents the compensation fund for possible layoffs.
Allowance for Doubtful Accounts
Category: Adjustments of Asset
Balance: Creditor
Definition: Represents an amount estimated to prevent future bad debts.
Work in Process
Category: Active
Balance: Debtor
Definition: Represents the products under development.
Finished Products
Category: Active
Balance: Debtor
Definition: Represents the finished products.
Related Searches
Category: Liabilities
Balance: Creditor
Definition: Current account debt for the purchase of goods.
Advertisement
Category: Lost
Balance: Debtor
Definition: Represents costs for advertising.
Reserve Legal
Category: Equity
Balance: Creditor
Definition: Represents the mandatory cash reserve.
Outcome of Exercise
Category: Gain / Loss
Balance: Creditor / Debtor
Definition: Represents the profit or loss in a year.
Outcome Sale of Goods Use
Category: Gain / Loss
Balance: Creditor / Debtor
Definition: Represents the amount that was lost or gained by the sale of assets.
Rodados
Category: Active
Balance: Debtor
Definition: Represents company vehicles.
Insurance Payable
Category: Liabilities
Balance: Creditor
Definition: Represents the amount to pay for insurance.
Insurance Paid
Category: Lost
Balance: Debtor
Definition: Represents the payment for insurance.
Prepaid Insurance
Category: Active
Balance: Debtor
Definition: Represents the payment for insurance before the period of service.
Services
Category: Lost
Balance: Debtor
Definition: Represents the cost of money paid for services to the company.
Sobrante Box
Category: Gain
Balance: Creditor
Definition: Represents a positive difference between the book value and reality.
Wages Payable
Category: Liabilities
Balance: Creditor
Definition: Represents the amount of wages to pay.
Salaries and Wages
Category: Lost
Balance: Debtor
Definition: Represents the cost of labor.
Land
Category: Active
Balance: Debtor
Definition: Represents the grounds of the company.
Securities
Category: Active
Balance: Debtor
Definition: Represents the ownership of shares held.
Securities Deposit
Category: Active
Balance: Debtor
Definition: Represents third-party checks to be deposited.
Sales
Category: Gain
Balance: Creditor
Definition: Represents the company’s sales.